Research Journal of Economics & Business Studies - RJEBS - The ...

More documents

Recommendations

Info

servicing, and the policies not meeting the credit requirements of the farmers. They were accustomed to old methods of borrowing etc. Crop insurance was also a failure because of misuse and false claims. And agents as well as insurers are not interested in policies of small sums assured and premiums. So, the Insurance Regulating Authority should insist that the business of every insure r should have a particular percentage of rural business and of small policies. The insurers LIC as well as the new entrants -- could introduce cost-effective collection methods by involving post offices. They should introduce innovative schemes such as `Crop linked life insurance', with proper credit facilities, easy claim settlement methods. PERFORMANCE OF LIC IN BUSINESS FORCE AND NEW BUSINESS BEFORE LIBERLIZATION (FROM 1981-82 TO 2000-01): The rural new business of LIC as a percentage of its overall new business has grown well during the 1980s and 1990s. The penetration in the rural areas was more pronounced in the 1990s than in the 1980s. The number of policies 6.9 lakhs in 1981-82 out of 21 lakhs policies as against 109.1 lakhs in 2000-01 out of 196.6 lakhs policies. As such the sum assured in rural areas were Rs.927 crores out of Rs.3, 479 crores as against in 2000-01 total contribution of rural area Rs.59, 641 crores out of Rs.1, 24,772 crores. It is half of contribution than one third contribution in 1981-82. The following table has been shown that the Performance of LIC of India during the period of 1981-82 to 2000-01. YEAR PERFORMANCE OF LIC OF INDIA BEFORE THE PERIOD OF 2000-2001 Business in Force – All India No.of No.of Offices Policies (Rs. In Sum Assured (Rs.Cr) All India – No. Policies (in Lakhs) New Business All India – Sum Assured (Rs.Cr) Rural No. of Policies (in Lakhs) Sum Assured (Rs.Cr) Lakhs) 1981-82 889 236 23,998 21 3,479 6.9 927 1982-83 958 243.8 26,264 22.3 3,974 7.3 1,038 1983-84 1,023 252.7 30,266 23.7 4,387 1.26 1,260 1984-85 1,107 264.8 33,785 27 5,376 9.5 1,570 1985-86 1,197 279.9 40,404 32.9 7,056 12.2 2,177 1986-87 1,280 298 47,906 38.7 9,068 14.8 2,916 1987-88 1,353 323.5 58,798 46.9 12,435 18.3 3,997 1988-89 1,427 360.8 74,129 59.8 17,223 24.1 5,818 1989-90 1,528 403.4 94,408 73.9 23,220 30.5 8,086 1990-91 1,651 455.1 1,18,651 86.5 28,139 36.8 10,295 1991-92 1,774 508.6 1,45,929 92.4 32,064 41.3 12,440 1992-93 1,906 566.1 1,77,268 99.6 35,957 44.4 14,085 1993-94 2,008 608.7 2,07,601 107.3 41,814 48.6 16,680 1994-95 2,021 654.5 2,53,333 108.7 55,229 49 21,571 1995-96 2,024 708.8 2,94,336 110.2 51,816 52.6 21,264 1996-97 2,023 776.7 343,018 122.7 56,741 60.3 24,279 1997-98 2,046 849.2 3,98,959 133.1 63,618 68.4 27,551 1998-99 2,048 916.4 4,57,435 148.4 75,316 81.2 35,373 1999-00 2,048 1,013.00 5,34,589 169.7 91,214 97 44,169 2000-01 2,048 1,130.20 6,43,241 196.6 1,24,772 109.1 59,641 www.theinternationaljournal.org > RJEBS: Volume: 02, Number: 06, April-2013 Page 12
AREA-WISE INSURANCE OFFICES: Another remarkable feature for the life insurance offices is their distribution over different areas of the country. The growth in life insurance offices is observed to be not confined mainly to metropolitan centers and cities. The insurers have opened their branch offices in semi-urban and rural areas as a way to spread insurance service to these areas. This indicates clearly that the insurance industry has widely campaigned the insurance service in all areas and developed accordingly. The following Table shows the details on the area-wise distribution of life insurance offices as on 31 st March, 2010. The total number of offices established by the life insurers is 12,018. Out of which 8,768 offices are established by the private sector insurers and the remaining 3,250 offices are established by the LIC. As regards the number of offices established in metro and urban areas taken together, both the public and private sector players spread only a 28 per cent their branches. But, there is an increase in the number of offices in semi-urban and rural areas of both the sectors of the insurance players mainly to tap the insurance market in these areas. Consequently, around threefourths, i.e. 72 per cent of the branches are established by the LIC and also the private sector units in these areas. Further, for meeting competition from the public sector giant, LIC and also for promoting the business in untapped areas, the private sector insurers also have established a good number of branches in semi-urban and rural areas. AREA-WISE DISTRIBUTION OF LIFE INSURANCE OFFICES AS ON 31 ST MARCH, 2010 Area LIC Private Sector Industry No. of offices Percentage to total No. of offices Percentage to total No. of offices Percentage to total Metro 347 10.68 897 10.23 1244 10.35 Urban 550 16.92 1555 17.73 2105 17.52 Semi-Urban 923 28.40 3607 41.14 4530 37.69 Rural 1430 44.00 2709 30.90 4139 34.44 TOTAL 3250 100.00 8768 100.00 12018 100.00 Sources: IRDA Annual Report, 2009-10 The LIC of India has to introduce some training centers in rural areas to educate the policy holders and LIC agents to increase the awareness of the significance of Life insurance then it may be increase rural area insurance business. It has to build team work of the agents and development officers of LIC in order to keep business from rural areas in the hands of LIC. Insurance Corporations can take projects in rural areas for creation of employment opportunities in off-season. Income so generated will provide the ability to the rural people for the payment of insurance premium. The LIC of India has to establish some more branch offices both in rural and urban areas keeping the growth of LIC business during the period of 20 years from 1981-82 to 2001-02. As private firms has established several their branches offices in the vicinities of municipalities and cities. Both the sectors can be used to conduct campaign on insurance awareness. Film stars can be utilized to conduct such campaign, as it is the best way of attracting rural people in the present day world. MICRO INSURANCE AGENTS In offering micro-insurance, micro-insurance agents are allowed to carry out the collection of proposal forms, remittance of premium, settlement of claims, nominations and policy administration services. The conventional models may not be able to accomplish the desired target in the rural area of micro-insurance. The intermediary may have to do the role of an integrated financial advisor. www.theinternationaljournal.org > RJEBS: Volume: 02, Number: 06, April-2013 Page 13
Page 2 and 3: Table of Contents Articles PERFORMA
Page 6 and 7: The Self-Help Group members get inc
Page 8 and 9: Are female workers more productive
Page 10 and 11: For the purpose of including explan
Page 12 and 13: several different, competing logist
Page 14 and 15: Fisher, R.T. (2001), “Role stress
Page 16 and 17: A Comparative Study of NPA of State
Page 18 and 19: processes. Instead of fixing target
Page 20 and 21: Agriculture Crisis and Sustainable
Page 22 and 23: Table 1. World Cereal production ,
Page 24 and 25: Expanding biofuel production The ex
Page 26 and 27: percent of the world’s population
Page 28 and 29: OECD (Organisation for Economic Co-
Page 30 and 31: It can provide the earnings needed
Page 32 and 33: The incubator will also work toward
Page 34 and 35: factor. This is not an easy proposi
Page 36 and 37: ROLE OF LOCAL SELF GOVERNMENT IN LE
Page 38 and 39: During the last season red onion fa
Page 40 and 41: Table Mch2 Coef. Std. Err Z P>/Z/ A
Page 42 and 43: lack of capital. The local farmer o
Page 44 and 45: It may be seen that alleviation of
Page 46 and 47: Table - 2 Progress under Bharat Nir
Page 48 and 49: References Chandrasekhar, B P., et
Page 50 and 51: existing cooperative legislation, r
Page 52 and 53: 1.3 THE RESEARCH QUESTIONS 1. What
Page 54 and 55:
Table 2: Earnings and Cost Allocati
Page 56 and 57:
have an adequate amount of capital
Page 58 and 59:
programs and the union was doing on
Page 60 and 61:
total assets to other key areas, it
Page 62 and 63:
esponded by (7.6%) of the members.
Page 64 and 65:
management; Gohe cooperatives savin
Page 66 and 67:
Significance of asset quality of St
Page 68 and 69:
iii) iv) Doubtful Assets:- a) Doubt
Page 70 and 71:
atios and solvency ratios are taken
Page 72 and 73:
Ratio of around 3% during 2007-08,
Page 74 and 75:
sufficient to draw an inference in
Page 76 and 77:
The observed R 2 and F statistics m
Page 78 and 79:
Board Composition, Ownership Struct
Page 80 and 81:
size as well. During our study it w
Page 82 and 83:
standards prevailing in the country
Page 84 and 85:
The procedure produces two tests of
Page 86 and 87:
hoc test for pair wise comparisons
Page 88 and 89:
e said that the board size affects
Page 90 and 91:
high-tech small and medium-sized en
Page 92 and 93:
Table no.8 - Multiple Comparisons T
Page 94 and 95:
Abstract Corporate Social Responsib
Page 96 and 97:
the participation of various level
Page 98 and 99:
Supplier Relations As stakeholders
Page 100 and 101:
CSR initiatives of companies should
Page 102 and 103:
Corporate Social Responsibility Pra
Page 104 and 105:
2011, this district received surplu
Page 106 and 107:
In the case of marginal farmers and
Page 108 and 109:
Findings From the above analysis it
Page 110 and 111:
2. Innovation: Meaning and Dimensio
Page 112 and 113:
data appropriately. Inferences were
Page 114 and 115:
The regression analyses as shown in
Page 116 and 117:
Role of Self-help Group in Socio-ec
Page 118 and 119:
10% for women and men respectively
Page 120 and 121:
MoRD has been constantly reviewing
Page 122 and 123:
76.6% units were found to be existi
Page 124 and 125:
10.Timely release of adequate loans
Page 126 and 127:
Standard of living of Rural Fisher
Page 128 and 129:
Table 1 denotes the infrastructure
Page 130 and 131:
FISHING METHODS USED BY DIFFERENT A
Page 132 and 133:
CONCLUSION Most of the fisher folk
Page 134 and 135:
Objectives: The following objective
Page 136 and 137:
Policies of the Government will hav
Page 138 and 139:
Wastage Schedule (Onion) Sl.No. Pri
Page 140 and 141:
At the end of 2008 the entire world
Page 142:
Conclusion: 9. The inflation can be
show all

Research Journal of Economics & Business Studies - RJEBS - The ...

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?